I will also agree with Willie on this and if it breaks, you will need to repivot.
However, there are less stressful methods of straightening a pivot than simply bending it. When you bend a stationary pivot you apply a high degree of stress in two small areas. In one area you compress steel and on the other side you stretch it. One method of distributing stress over the circumference, is to bend the pivot no more than required while it is rotating.
One example of this can be seen in the following link while doing a NAWCC WS-117 Lathe class in a Sherline class room. Please note that this was done on very short notice over a lunch break, and for whatever reason the spindle on the lathe appears to be running much faster than it was.
Also, all small pivots should be held in collets for this procedure not in a chuck as shown because of the very limed time.
Jerry Kieffer